This is really sad. Some 386,000 people dropped out of the labor market, which actually resulted in a decrease in UE to 8.1%.
Yes, what Obama needs is four more years to stay the course. He can be historic by having 96 consecutive months of unemployment over 8%.
The economy added 96,000 workers last month following a revised 141,000 rise in July that was smaller than initially estimated, Labor Department figures showed today in Washington. The median estimate of 92 economists surveyed by Bloomberg called for a gain of 130,000. Unemployment unexpectedly fell to 8.1 percent, and hourly earnings were unchanged.
Then next month this anemic 96,000 will be revised downward.
As Clint Eastwood once famously said, when someone’s not getting the job done you’ve got to let them go.
So much for the media wishcasting from earlier this morning.
The jobs outlook in the U.S. brightened a bit Thursday just before President Barack Obama was to make his case for re-election to the American people.
Fewer people applied for unemployment benefits last week, the government reported. And companies boosted hiring in August, according to a private survey.